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Manchester United CEO: Debt Hasn't Impacted Our Team

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  • Description

    FBN's Adam Shapiro on Manchester United's IPO.

  • Duration 1:56
  • Date

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Markets now and we're watching obviously this stock at the New York Stock Exchange in morning -- -- Manchester United.

Company the stock latest big debut on the New York Stock Exchange this morning bucks.

The legendary soccer club that make it much of a splash on the markets that's what you care about bad spirit joining me now with more on a stock that's up 1402.

Adam.

Trading up two cents.

-- -- do pop the champagne you know they were hoping the owners of this team which -- -- American family Glazer family was opening at the -- would have been anywhere between sixteen and twenty bucks.

They wanted to raise 334.

Million dollars that generates 234 million but the -- huge debt half of that money is gonna help retire some of the debt.

Fans and Manchester United were hoping that this stock would be a lot worse that someone would come in and take over the team from the -- is but.

You know David Dill -- -- united CEO put it like this.

They are in the club they're entitled to that there was no money it within the club that they they are in the club -- they've -- -- part -- that -- investors -- want to -- -- -- -- -- -- -- -- -- I think.

What I would say is that you have the level of debt that we've had in the -- since they've taken hasn't that -- plant site hasn't.

An impact from what we've done.

None of the team that period we've run full committee that attributed the -- -- the final three times we've had ongoing to cut from the fiction.

We fully understand the and is fully understand why haven't on the pitch is crucial for us and we will make -- they have sufficient.

Funds to invest in the thing going forward and as they were comfortable with the level of leverage we've had.

So cheerio on word play ball as they -- in the UK are -- they say that here but you understand what I'm saying.

They go forward.

Yeah well you know -- just say heavy and it really did not forget the BS that the warm welcome that they wanted here in the United States but we subject soccer and football confused and fortunately FF and EU as Adam -- -- report live from the newsroom are gonna watch the stock on its.

Big IPO debut today.

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